TheBlock
US spot Bitcoin exchange-traded funds pulled $730.9 million in net inflows on Thursday, the largest single-day print since January 14. BlackRock's IBIT absorbed roughly $454 million of that total, with six other funds, including Fidelity and Grayscale, also reporting positive flows. Rachael Lucas of BTC Markets called the IBIT concentration the structural tell: it is the wrapper institutions use for size, which points to allocation flow rather than tactical positioning.
Why it matters
The immediate trigger was macro. Fed Governor Christopher Waller said earlier in the week that he was inclined to hold rates steady if inflation keeps cooling, a comment Jeff Mei, COO of BTSE, described as a green light that sent growth stocks and crypto flying. The inflows extend a stronger tape for the funds: last month was the strongest month for US spot Bitcoin ETFs since September 2025, with $3.5 billion in total inflows.
The deeper read sits in how BTC is being priced. Lucas flagged that BTC's 90-day correlation with gold has risen to a six-year high above 50%, while its correlation with the S&P 500 has fallen close to zero. If that holds, it argues BTC is being framed as an inflation hedge rather than a high-beta risk asset, which changes how the flow should be read over months rather than days.
Market impact
Bitcoin reclaimed the $81,000 line late Thursday night and was trading around $80,950. Crypto equities tracked the move: Strategy rose 17.6% to $144.80, Coinbase gained 10% to $192.70, and Circle ended Thursday up 16.5% at $103.23. The next two prints will decide whether $81,000 holds as a floor or fades. Lucas pointed to jobs, then CPI, as the decisive data, and noted September carries a weak seasonal record. Waller conditioned his dovish read on inflation cooling, so a hot print would reverse the premise directly.
Frequently asked questions
-
What triggered the $731M inflow day?
Fed Governor Christopher Waller signalled he was inclined to hold rates steady if inflation keeps cooling, a comment analysts called a green light that sent growth stocks and crypto higher.
-
Why is the IBIT concentration significant?
Roughly $454M of the $730.9M total went into BlackRock's IBIT, the wrapper institutions use for size, pointing to allocation flow rather than tactical positioning.
-
How much did US Bitcoin ETFs attract last month?
US spot Bitcoin ETFs attracted $3.5 billion last month, the strongest monthly total since September 2025.
-
What macro data could decide whether $81,000 holds?
Jobs and CPI are the next two prints, with September also carrying a weak seasonal record. Waller conditioned his dovish read on inflation cooling, so a hot CPI print would reverse the premise.
-
What does the rising BTC-gold correlation mean?
BTC's 90-day correlation with gold hit a six-year high above 50%, while correlation with the S&P 500 fell near zero, suggesting BTC is being framed as an inflation hedge rather than a high-beta risk asset.
Lookonchain
CoinTelegraph
WuBlockchain
Altcoin Daily
CryptoSlate
CoinDesk